15% must go

GoPro announces job cuts and restructuring

The action cam manufacturer GoPro wants to cut jobs as part of a restructuring plan to reduce operating costs. Around 15 percent of the workforce will be affected, the US company announced on Monday. The job cuts, which will affect around 139 jobs, are to begin in the third quarter and be completed by the end of 2024.

At the end of the second quarter on June 30, GoPro employed 925 full-time employees. The company expects the restructuring plan to cost between five and seven million dollars (up to 6.3 million euros). Of this, around one million dollars is to be recognized as a cash expense in the third quarter and four to six million dollars in the fourth quarter of 2024.

Earlier this month, GoPro announced revenue of 186 million dollars for the second quarter, a year-on-year decline of 22.7 percent. Operating costs rose by five percent to 103 million dollars.